U.S. President Barack Obama will name Paul Otellini, the chief executive of Intel Corp., the world's largest semiconductor maker, to a presidential panel on jobs and competitiveness, the White House said in a statement.

The panel of outside economic advisers, which is headed by General Electric Co. chief executive officer Jeffrey Immelt, was created by the president last month to find ways to encourage hiring and boost U.S. economic competitiveness.

Obama will name Otellini to the panel today in Hillsboro, Oregon, where the president is touring an Intel semiconductor factory to promote science, math and technology education. Other members of the panel will be announced in the coming weeks, the administration statement said.

The competitiveness panel replaced one designed to advise the administration on responding to the financial crisis that was headed by former Federal Reserve Chairman Paul Volcker. The new President's Council on Jobs and Competitiveness meets quarterly and is supported by Treasury Department staff.